Monster Rancher 2 is pretty good. You don't raise "teams" of monsters but you do raise one. And yeah once you raise 2 monsters you can combine them to get a monster that has techniques/attributes based on the parents and will have a hybridy look, so yeah it seems to be everything you want.
On the other hand I haven't heard good stuff about 3 so I probably wouldn't recommend that. Didn't even know 4 existed so your guess is as good as mine.
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